Here’s our August Santa Barbara market update.

Let’s take a look at what’s happening for homes and condos so far this year.

The median sale price has inched up compared to last year — a modest but meaningful increase that shows the market is still holding steady. Inventory, however, is where we’re seeing the biggest change. Well over a thousand properties have hit the market in 2025, compared to just around eight hundred last year. That’s a big jump, and it’s giving buyers more choices than they’ve had in a long time.

Homes are also taking a little longer to sell, with average market times stretching slightly compared to last year. And while the sale-to-list price ratio is still strong, it’s ticked down just a bit, suggesting buyers may have a little more leverage right now.

Here’s a quick tip for buyers: with more inventory and longer days on the market, you’ve got more room to negotiate. But remember — well-priced, well-prepped homes are still moving quickly.

And a tip for sellers: the market remains healthy, but with more competition and a touch of buyer hesitation, pricing and presentation are more important than ever to secure top dollar.

If you’re thinking about your next move in Santa Barbara, let’s connect and create a strategy that works for you.